What's Mylan worth? For big exec bonuses, $73 per share. For Teva, lots more

Mylan ($MYL) may be demanding more than $100 per share from suitor Teva ($TEVA) if it wants to talk takeover. But for itself--and its executives--its expectations aren't nearly that high.

If the company can hit $73.33 per share--as well as EPS of $6--by the end of 2018, it'll be an "extraordinary achievement by our leadership team in such a short period of time," the company said in an SEC filing.

Yet when generics rival Teva put forth a $82-per-share bid, Mylan turned up its nose, claiming the proposal "grossly" undervalued the company. Exec chairman Robert Coury also took issue with Teva's stock performance and the way it goes about its business, laying out minimum criteria for a proposal Mylan would consider, but calling it "implausible" that Teva could realistically meet them.

Mylan's outsized self-esteem--compared with its personal goals, that is--might be a product of its geographical split, Bloomberg suggests. After wrapping up a tax inversion deal, the company's official "domicile" recently moved from longtime home Canonsburg, PA, to Potters Bar, England. That might have led to a case of split personality--or, as the news service cheekily hints, cognitive dissonance.

Mylan Chairman Robert Coury

The drugmaker is handsomely rewarding its leaders for powering through any obstacles, though: Coury's compensation, for one, skyrocketed 46% to hit $22.5 million for 2014, Mylan disclosed last week. That kind of payoff is unheard of at Israeli company Teva, which took heat in 2012 when it sought to raise then-chairman Phillip Frost's salary from $517,000 to $900,000.

But if Teva ultimately does prevail and fold Mylan in--the way some analysts predict it will--Coury need not worry. Under his employment deal with Mylan, he would take home a golden parachute worth $72.1 million, Globes reports, and he'll keep health benefits--and use of the company jets--for three years following a tie-up.

- read Mylan's 10-K
- read Bloomberg's take
- get more from Globes

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